Market: International

Fenosa expands presence in Mexico

One of Spain's largest power producers, Union Electrica Fenosa has completed the negotiations for a turnkey engineering, procurement and construction agreement for the construction of two 1,000 megawatt power plants in Vera Cruz, Mexico. The plants are part of Vera Cruz’s Tuxpan project. The value of the deal was in excess of US$454 million.

19 April 2002

Swidler Berlin partner named special adviser to Peruvian prime minister

The Peruvian-born lawyer José A Palma, founding member and former head of Swidler Berlin Shereff Friedman LLP’s Latin American practice group, has been appointed special adviser to the Prime Minister of the Republic of Peru, Roberto Dañino.

19 April 2002

Bryan Gonzalez goes for new office in Madrid

Already the first Mexican law firm to have set up an office in New York, Bryan, González Vargas & González Baz SC has broken new barriers by becoming the first to open a base in Madrid. The new full-service office was opened on February 1 under the leadership of managing partner F Juan Jose Gaxiola.

19 April 2002

IBA/LATIN LAWYER Conference

The International Bar Association's Latin American and Caribbean Regional Conference, the year's premier event for business law in Latin America, organised in co-operation with LATIN LAWYER, opens in Cuzco, Peru on April 26th. LATIN LAWYER's editorial and publishing teams will be there to answer your questions, and registration is still open. For more information on the conference, see www.ibanet.org or click on the image at the foot of this briefing.

19 April 2002

Rutas del Pacífico US$280-million issue is Chile's first infrastructure financing of the year

The Chilean highways concessionaire Sociedad Concesionaria Rutas del Pacífico SA (RDP) has completed a secured long-term bond issuance of UF11.25 million (nearly US$281 million). The RDP issue, closed on April 9, is one of the largest ever to have been registered with the national securities agency, SVS - and is more than twice the size of the issue planned by fellow Chilean concessionaire Sociedad Concesionaria Autopista del Sol SA (reported in LATIN LAWYER in March).

12 April 2002

Cleary advises Uruguay on US$250-million offer

Uruguay has made a SEC-registered US$250-million offering of 7 7/8 per cent notes due 2009, under the country's shelf registration statement. The transaction closed on March 25 and the notes were listed on the Luxembourg Stock Exchange on March 28.

12 April 2002

Home Depot expands presence in Mexico

The world’s largest home improvement specialty retailer, The Home Depot, has acquired Maderería del Norte, the third largest home improvement retailer in Mexico, consisting of four stores in Ciudad Juárez, Mexico. The acquisition was undertaken through The Home Depot's Mexican subsidiary, Soluciones para Las Casas de México, S de R L de CV.

12 April 2002

Molson takes over Kaiser in US$765 million deal

In what is seen as the most significant deal in Brazil's beverage market since the AmBev merger in 2000, Canada’s largest and oldest brewery, Molson Inc, has acquired Cervejarias Kaiser, the second largest brewery in Brazil, in conjunction with the Dutch brewer Heineken, for CA$1.2 billion (US$765 million.

05 April 2002

ING buys 49 per cent stake in Sul America

The biggest financial services organisation in the Netherlands, ING Groep NV, will acquire a 49 per cent stake in Brazil’s second-largest insurance company, Grupo Sul América Companhia Nacional de Seguros, for US$400 million, as the two companies aim to strengthen their partnership across the country. The agreement, announced on March 26, is pending regulatory approval and is expected to close by July.

05 April 2002

Placer Dome set to mine gold in Dominican Republic

In a historic agreement, the Dominican Republic has granted the Canadian mining company Placer Dome the concession to conduct gold and silver extraction operations at the Pueblo Viejo mine near the country’s capital, Santo Domingo. The agreement was signed on 25 March.

05 April 2002

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